67,165 Shares in ServiceNow, Inc. $NOW Acquired by Moran Wealth Management LLC

Key Points

• Moran Wealth Management LLC opened a new position in ServiceNow during the first quarter, buying 67,165 shares valued at about $7.0 million.
• ServiceNow reported quarterly earnings of $0.97 per share, matching estimates, while revenue came in slightly ahead at $3.77 billion and rose 22.1% year over year.
• Analysts remain broadly positive on the stock: the consensus rating is Moderate Buy with an average price target of $141.68, even as some recent reports note valuation and AI-related concerns.

Moran Wealth Management LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 67,165 shares of the information technology services provider's stock, valued at approximately $7,022,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Noble Wealth Management PBC raised its stake in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 128 shares in the last quarter. Millstone Evans Group LLC grew its stake in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC purchased a new stake in ServiceNow during the 4th quarter worth about $25,000. Finally, Measured Wealth Private Client Group LLC raised its position in ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Down 0.2%

NYSE:NOW opened at $106.06 on Friday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The stock has a market cap of $109.34 billion, a P/E ratio of 63.20, a P/E/G ratio of 1.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day simple moving average of $100.53 and a 200-day simple moving average of $112.88.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOW. Bank of America began coverage on ServiceNow in a research note on Monday, May 18th. They issued a "buy" rating and a $130.00 price objective for the company. Robert W. Baird reduced their target price on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. BNP Paribas Exane raised shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Monday, March 16th. Evercore lifted their price target on shares of ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Finally, FBN Securities lowered their price target on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $141.68.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy, saying AI fears have been overdone and that the stock offers meaningful upside from current levels. ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Other commentary framed ServiceNow as a “golden opportunity” for patient investors, reinforcing the view that the recent selloff may be excessive relative to its growth outlook. ServiceNow (NOW): A Golden Opportunity for Patient Investors
• Positive Sentiment: Analysts and investors continue to highlight demand for ServiceNow’s AI Control Tower and AI-enabled workflow tools, which supports the company’s long-term growth narrative. ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: Several articles discuss ServiceNow’s premium valuation, which may limit near-term upside even as growth remains solid. Does Guggenheim’s Upgrade Reframe ServiceNow (NOW) as an AI Workflow Enabler Rather Than a Disruption Risk?
• Negative Sentiment: Some reports still point to concerns about AI disruption, delayed large deal closures, acquisition-related margin pressure, and overall valuation risk, which could temper enthusiasm. ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

ServiceNow Profile

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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